 have set a Wednesday deadline for rivals to save the chain Wilko rivals have just hours left to submit bids to save the high street chain, with 12,500 jobs and more than 400 jobs currently at risk. Administrators at PricewaterhouseCoopers (PwC) set a Wednesday deadline for any interested parties to officially put in an offer for the bust retailer. PwC is then expected to create a shortlist for second-round bids by Friday. If the administrators receive no official bids today, then Wilko risks being liquidated - this means the company will no longer exist and its assets will be sold off. However, even if bids are made today, this does not necessarily mean all Wilko stores or jobs will be saved. Rival firms can choose to only save part of a business once it has entered administration. Yesterday, it was reported that discount retailers B&M, The Range, Poundland and Home Bargains had all expressed an interest in bidding for Wilko. However, sources told The Sun that some offers could see 300 shops saved, but the majority of discussions were only for between 40 and 50 stores. Wilko collapsed into administration last week after struggling under mounting cost pressures. CEO Mark Jackson said: 'Over the past six months Wilko has been very open that we've been considering options to accelerate a turnaround plan given that we needed to make significant changes to the way we operate to restore confidence and stabilise our business. We left no stone unturned when it came to preserving this incredible business.' At the time, Mr Jackson said Wilko had received "indicative offers" but he added: "Without the surety of being able to complete the deal within the necessary time frame and given the cash position, we've been left with no choice but to take this unfortunate action." Just days previously, specialist investors Gordon Brothers, Alteri Investors and Opcapita were r){kind=link}
Wilko collapsed after struggling under mounting cost pressures and administrators at PricewaterhouseCoopers (PwC) have set a Wednesday deadline for rivals to save the chain
Wilko rivals have just hours left to submit bids to save the high street chain, with 12,500 jobs and more than 400 jobs currently at risk.
Administrators at PricewaterhouseCoopers (PwC) set a Wednesday deadline for any interested parties to officially put in an offer for the bust retailer. PwC is then expected to create a shortlist for second-round bids by Friday.
If the administrators receive no official bids today, then Wilko risks being liquidated – this means the company will no longer exist and its assets will be sold off. However, even if bids are made today, this does not necessarily mean all Wilko stores or jobs will be saved.
Rival firms can choose to only save part of a business once it has entered administration. Yesterday, it was reported that discount retailers B&M, The Range, Poundland and Home Bargains had all expressed an interest in bidding for Wilko.